FX.co ★ Actual patterns. Technical analysis and trading recommendations

On the chart of AUDCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5624; the lower boundary 0.5620; the width of the pattern 4 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5605 level.

The Bearish Flag pattern has been formed on the chart AUDCHF M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.5612, traders should enter the market.

The Bearish pennant pattern has formed on the AUDCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5612 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top reversal pattern has been formed on AUDCHF M5. Characteristics: the upper boundary 0.5647; the lower boundary 0.5643; the width of the pattern is 4 points. Sell trades are better to be opened below the lower boundary 0.5643 with a possible movements towards the 0.5628 level.

According to the chart of M15, AUDCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.5657 and 0.5647 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 10 pips. Outlook: If the upper border 0.5657 is broken, the price is likely to continue its move by 0.5674.